Other Financial Aid Packages

There are three basic kinds of financial aid available:

Grants are gifts that do not have to be paid back. Federal grant programs include the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant.

Loans are borrowed money that has to be paid back over a period of time, usually after the student leaves school. Federal loans include Federal Perkins Loans, and loans made under the Federal Family Education Loan Program (FFELP). FFELP loans are obtained from financial institutions such as banks and credit unions, and include Federal Stafford Loans (subsidized and unsubsidized), and Federal PLUS Loans.

Work-study is money you must earn by working at a part-time job. Funds for the major portion of wages students earn on work-study jobs come from the Federal Work-Study Program.

Additional Resource:  In October 2004, the California Community Colleges Chancellor's Office announced the official launch of www.icanaffordcollege.com.  The Web site was developed to directly connect students and potential students with financial aid offices in their area to get one-on-one assistance with the financial aid application process.  The Web site serves as the primary information resource for students who need help finding ways to pay for college.